Finance Deals & Syndicated Lending · glossary
A lender's binding promise to lend up to a stated amount. A Loan is money actually drawn. Interest runs on Loans, and the commitment fee runs on what is committed but not yet drawn. Definition: Commitment · Chapter 1
Explained in Chapter 1, What Debt Finance Is, of Finance Deals & Syndicated Lending.
From signing, each bank must stand ready to lend up to its commitment, the most it has promised. Schedule 1 lists each bank's commitment, and they add up to €40m. The money moves only at utilisation, also called drawdown, when Atlas asks for it. The money drawn is a Loan.Read Chapter 1, What Debt Finance Is →
Chapter 1 and this glossary are open to everyone; the whole edition is free to read with a free account until 31 January, and it stays open to an account opened by then.Chapter 1 of Finance Deals & Syndicated Lending and this glossary are free to read; the rest of the edition is in the Library, at €12 a month or €79 for a Year Pass.
in relation to a Lender, its Facility A Commitment and Facility B Commitment set out opposite its name in Part B of Schedule 1, to the extent not cancelled, reduced or transferred under this Agreement;Read the definition in the document →
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